Kazakhstan sees minimal risk in Russian nuclear plant project

ASTANA. July 15 (Interfax) - Kazakhstan sees minimal risks for the country's first nuclear power plant project involving Russia's Rosatom state nuclear corporation.

"We believe there will be few such risks. Of course, we will work with our Russian colleagues to implement this important project for Kazakhstan on time," Prime Minister Olzhas Bektenov told reporters when asked whether Rosatom could complete the construction given its experience with Turkey's Akkuyu nuclear plant.

He said there were key differences between the projects. "In Turkey, Rosatom operates under a Build-Own-Operate (BOO) scheme and will own the plant after construction. In Kazakhstan, the nuclear plant will belong to Kazakhstan," he said.

Rosatom is currently negotiating to sell a 49% stake in Turkey's Akkuyu project to Turkish and foreign investors.

Kazakhstan's Atomic Energy Agency previously selected Rosatom to lead a consortium for building the country's first nuclear plant, while a second potential plant might be built by China's CNNC.

Rosatom has signed a roadmap with Kazakhstan for the construction of two VVER-1200 reactor units. The construction is expected to take approximately 11 years and could be completed by 2035-2036.

The first NPP may receive state export financing from Russia, with discussions underway.

The feasibility study for the estimated $14 billion NPP project could be ready in December 2025.